DollarTrailing Question

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Thomas Mann
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Joined: 25 Aug 2007

DollarTrailing Question

Postby Thomas Mann » 12 May 2009

Hi,
I am testing Dollar Trailing and have mine set at (3*BigPointValue) which is 3 points on the ES. Attached is a snap shot showing the strategy entry and ES almost 5 points away from the entry yet the auto trailing does not show. How exactly does this command lock in a trail profit ?
Thanks

Here is the trail line of code

setdollartrailing(3*bigpointvalue);
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TJ
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Postby TJ » 12 May 2009

from the PowerEditor dictionary:

BigPointValue

Returns a numerical value, indicating the currency value of a single whole unit price change for the data series that the study is applied to.

Usage

BigPointValue

Note

BigPointValue = PointValue × PriceScale

Examples

BigPointValue will return 1 for Google
BigPointValue will return 50 for E-mini S&P 500

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TJ
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Postby TJ » 12 May 2009

you can check these values with my Programmer's Toolbox

http://www.tssupport.com/forum/viewtopic.php?t=5896

Thomas Mann
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Postby Thomas Mann » 12 May 2009

Hi TJ,
Thanks for the reply. I understand that bigpointvalue returns 50 for ES. I am assuming dollar trail looks at openpositionprofit maybe ?
My goal was to trail when I got 3 points plus on a trade. I really wish we could tell a strategy to use the run-up value and exit if profit was > X, but I never got a reply on my request the other day. I will look back at the help guide to try and see what I missed on understanding this.
Thanks

SUPER
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Postby SUPER » 12 May 2009

Thomas,

you can use something along these lines:

Input: Amount(150);
Vars: XLongVal(0),

XLongVal = entryprice + (maxpositionprofit - Amount)/bigpointvalue ;

if MarketPosition=1 then sell next bar at XLongVal Stop;

Regards
Super

Thomas Mann
Posts: 173
Joined: 25 Aug 2007

Postby Thomas Mann » 13 May 2009

Thanks Super, I will play with it.


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